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Tue, 07/02/2012 - 9:41 pm.
Commodities Buzz: Indonesia Aims Production Target Of 75.7 Mil MT In Rice

xkgao15.jpgIndonesia's agriculture ministry has revealed that the country is targeting annual rice output growth of 3.22 % per year over the next five years to reach an output of 75.7 million MT of unmilled rice in 2014. The five-year rice output target is about 18 % up on 2009 output, which is forecast at 63.84 million MT of unmilled rice. The ministry has projected 2010's output at 66 million MT. Indonesia, the world's number three rice consumer, which was still a major importer of rice in 2007, has become self sufficient over the past two years after ample domestic output, easing pressures on global demand.

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